Vitamins Market

Vitamins Market Size & Overview – Key Insights & Forecast

Base Year: 2023 Historical Data: 2020-22
  • Report ID: TBI-12603
  • Published Date: Aug, 2024
  • Pages: 233
  • Category: Healthcare
  • Format: PDF
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Market Introduction

Global Vitamins market is expected to reach USD 15.87 billion by 2033, at a CAGR of 7.11% from 2024 to 2033. Global Vitamins market is witnessing a considerable growth owing to the increasing demand for functional and nutritionally enriched food products.

Vitamin is the nutrient which is responsible for growth, proper functioning of the nervous system and also responsible for digestion among others. They have very diverse biochemical functions. For instance, Vitamin A is responsible for tissue growth and regulator of cells, similarly vitamin B complex work as coenzymes. Vitamin C & E are responsible for antioxidants. The excess consumption or deficiency of the vitamin can lead to serious illness. The only source of vitamins were fruits before 1935. After that tablet-based on yeast extract vitamins came into production and slowly and slowly, many vitamin supplements came into picture, which helps in curing the deficiency of vitamins. The government approved the addition of vitamins in the staple food like flour, milk and many more, called food fortification, which help in the prevention of deficiencies. Vitamins are either water-soluble or fat-soluble. Four out of 13 vitamins are fat-soluble, they are Vitamin A, D E and K and remaining 9 vitamins are water-soluble, which includes eight Vitamin B’s and also vitamin C. There is a great demand for vitamin market by the wellness industry. There is a rise in the demand of vitamins in the supplement industry. These all factors are fuelling the Vitamin market. Physicians are also prescribing multivitamins for children and also during prenatal development, vitamins are essential. Vitamin D is very important for breastfeeding and pregnant women for the better health of children and now is gaining popularity. The vitamin supplements are also essential for the older people and also for children between the age group of 6 months to 5 years. People with who is having lesser exposure to the sun is also required these vitamin supplements. Due to unhealthy lifestyle and unhealthy food habits, people are catching up with many diseases; this is also driving the vitamin market. The requirement for fortified and functional food is propelling the vitamin market. There are varied application of vitamins starting from food, healthcare, feed and personal care industries. Personal care industries use the vitamins for the fortification purpose to increase the nutritional value of the product. The food products like the diary-based beverage, flours and bakery product are fortified with different types of vitamin B to increase its nutritional value. All these factors have created a solid base for the vitamin market.

Vitamins Market Size

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1. Introduction
    1.1. Objectives of the Study
    1.2. Market Definition
    1.3. Research Scope
    1.4. Currency
    1.5. Key Target Audience

2. Research Methodology and Assumptions

3. Executive Summary

4. Premium Insights
    4.1. Porter’s Five Forces Analysis
    4.2. Value Chain Analysis
    4.3. Top Investment Pockets
          4.3.1. Market Attractiveness Analysis By Product Type
          4.3.2. Market Attractiveness Analysis By Application
          4.3.3. Market Attractiveness Analysis By Region
    4.4. Industry Trends

5. Market Dynamics
    5.1. Market Evaluation
    5.2. Drivers
    5.3. Restraints
    5.4. Opportunities
    5.5. Challenges

6. Global Vitamin Market Analysis and Forecast, By Product Type
    6.1. Segment Overview
    6.2. Vitamin A
    6.3. Vitamin B
    6.4. Vitamin C
    6.5. Vitamin D
    6.6. Vitamin E
    6.7. Vitamin K

7. Global Vitamin Market Analysis and Forecast, By Application
    7.1. Segment Overview
    7.2. Animal Feed
    7.3. Food & Beverages
    7.4. Pharmaceutical Industry
    7.5. Cosmetics

8. Global Vitamin MarketAnalysis and Forecast, By Regional Analysis
    8.1. Segment Overview
    8.2. North America
          8.2.1. U.S.
          8.2.2. Canada
          8.2.3. Mexico
    8.3. Europe
          8.3.1. Germany
          8.3.2. France
          8.3.3. U.K.
          8.3.4. Italy
          8.3.5. Spain
    8.4. Asia-Pacific
          8.4.1. Japan
          8.4.2. China
          8.4.3. India
    8.5. South America
          8.5.1. Brazil
    8.6. Middle East and Africa
          8.6.1. UAE
          8.6.2. South Africa

9. Global Vitamin Market-Competitive Landscape
    9.1. Overview
    9.2. Market Share of Key Players in GlobalVitamin Market
          9.2.1. Global Company Market Share
          9.2.2. North America Company Market Share
          9.2.3. Europe Company Market Share
          9.2.4. APAC Company Market Share
    9.3. Competitive Situations and Trends
          9.3.1. Product Launches and Developments
          9.3.2. Partnerships, Collaborations, and Agreements
          9.3.3. Mergers & Acquisitions
          9.3.4. Expansions

10. Company Profiles
    10.1. BASF
          10.1.1. Business Overview
          10.1.2. Company Snapshot
          10.1.3. Company Market Share Analysis
          10.1.4. Company Product Portfolio
          10.1.5. Recent Developments
          10.1.6. SWOT Analysis
    10.2. Pfizer
          10.2.1. Business Overview
          10.2.2. Company Snapshot
          10.2.3. Company Market Share Analysis
          10.2.4. Company Product Portfolio
          10.2.5. Recent Developments
          10.2.6. SWOT Analysis
    10.3. Koninklijke DSM
          10.3.1. Business Overview
          10.3.2. Company Snapshot
          10.3.3. Company Market Share Analysis
          10.3.4. Company Product Portfolio
          10.3.5. Recent Developments
          10.3.6. SWOT Analysis
    10.4. Nestle
          10.4.1. Business Overview
          10.4.2. Company Snapshot
          10.4.3. Company Market Share Analysis
          10.4.4. Company Product Portfolio
          10.4.5. Recent Developments
          10.4.6. SWOT Analysis
    10.5. Lonza
          10.5.1. Business Overview
          10.5.2. Company Snapshot
          10.5.3. Company Market Share Analysis
          10.5.4. Company Product Portfolio
          10.5.5. Recent Developments
          10.5.6. SWOT Analysis
    10.6. Groupe Danone
          10.6.1. Business Overview
          10.6.2. Company Snapshot
          10.6.3. Company Market Share Analysis
          10.6.4. Company Product Portfolio
          10.6.5. Recent Developments
          10.6.6. SWOT Analysis
    10.7. Amway
          10.7.1. Business Overview
          10.7.2. Company Snapshot
          10.7.3. Company Market Share Analysis
          10.7.4. Company Product Portfolio
          10.7.5. Recent Developments
          10.7.6. SWOT Analysis
    10.8. Archer Daniels Midland Company
          10.8.1. Business Overview
          10.8.2. Company Snapshot
          10.8.3. Company Market Share Analysis
          10.8.4. Company Product Portfolio
          10.8.5. Recent Developments
          10.8.6. SWOT Analysis
    10.9. Bluestar Adisseo Company
          10.9.1. Business Overview
          10.9.2. Company Snapshot
          10.9.3. Company Market Share Analysis
          10.9.4. Company Product Portfolio
          10.9.5. Recent Developments
          10.9.6. SWOT Analysis
    10.10. AIE Pharmaceuticals. Inc.
          10.10.1. Business Overview
          10.10.2. Company Snapshot
          10.10.3. Company Market Share Analysis
          10.10.4. Company Product Portfolio
          10.10.5. Recent Developments
          10.10.6. SWOT Analysis
    10.11. Bactolac Pharmaceuticals, Inc
          10.11.1. Business Overview
          10.11.2. Company Snapshot
          10.11.3. Company Market Share Analysis
          10.11.4. Company Product Portfolio
          10.11.5. Recent Developments
          10.11.6. SWOT Analysis

List of Table

1. Global Vitamin  Market, By Product Type, 2020–2033(USD Billion)

2. Global Vitamin A Vitamin  Market, By Region, 2020–2033(USD Billion)

3. Global Vitamin B Vitamin  Market, By Region, 2020–2033(USD Billion)

4. Global Vitamin C Vitamin  Market, By Region, 2020–2033(USD Billion)

5. Global Vitamin D Vitamin  Market, By Region, 2020–2033(USD Billion)

6. Global Vitamin E Vitamin   Market, By Region, 2020–2033(USD Billion)

7. Global Vitamin KVitamin   Market, By Region, 2020–2033(USD Billion)

8. Global Vitamin  Market, By Application, 2020–2033(USD Billion)

9. Global Animal Feed, Vitamin  Market, By Region, 2020–2033(USD Billion)

10. Global Food & Beverages, Vitamin  Market, By Region, 2020–2033(USD Billion)

11. Global Pharmaceutical Industry, Vitamin  Market, By Region, 2020–2033(USD Billion)

12. Global Cosmetics, Vitamin  Market, By Region, 2020–2033(USD Billion)

13. Global Vitamin  Market, By Region, 2020–2033(USD Billion)

14. Global Vitamin  Market, By North America, 2020–2033(USD Billion)

15. North America Vitamin  Market, By Product Type, 2020–2033(USD Billion)

16. North America Vitamin  Market, By Application, 2020–2033(USD Billion)

17. U.S. Vitamin  Market, By Product Type, 2020–2033(USD Billion)

18. U.S. Vitamin  Market, By Application, 2020–2033(USD Billion)

19. Canada Vitamin  Market, By Product Type, 2020–2033(USD Billion)

20. Canada Vitamin  Market, By Application, 2020–2033(USD Billion)

21. Mexico Vitamin  Market, By Product Type, 2020–2033(USD Billion)

22. Mexico Vitamin  Market, By Application, 2020–2033(USD Billion)

23. Europe Vitamin  Market, By Product Type, 2020–2033(USD Billion)

24. Europe Vitamin  Market, By Application, 2020–2033(USD Billion)

25. Germany Vitamin  Market, By Product Type, 2020–2033(USD Billion)

26. Germany Vitamin  Market, By Application, 2020–2033(USD Billion)

27. France Vitamin  Market, By Product Type, 2020–2033(USD Billion)

28. France Vitamin  Market, By Application, 2020–2033(USD Billion)

29. U.K. Vitamin  Market, By Product Type, 2020–2033(USD Billion)

30. U.K. Vitamin  Market, By Application, 2020–2033(USD Billion)

31. Italy Vitamin  Market, By Product Type, 2020–2033(USD Billion)

32. Italy Vitamin  Market, By Application, 2020–2033(USD Billion)

33. Spain Vitamin  Market, By Product Type, 2020–2033(USD Billion)

34. Spain Vitamin  Market, By Application, 2020–2033(USD Billion)

35. Asia Pacific Vitamin  Market, By Product Type, 2020–2033(USD Billion)

36. Asia Pacific Vitamin  Market, By Application, 2020–2033(USD Billion)

37. Japan Vitamin  Market, By Product Type, 2020–2033(USD Billion)

38. Japan Vitamin  Market, By Application, 2020–2033(USD Billion)

39. China Vitamin  Market, By Product Type, 2020–2033(USD Billion)

40. China Vitamin  Market, By Application, 2020–2033(USD Billion)

41. India Vitamin  Market, By Product Type, 2020–2033(USD Billion)

42. India Vitamin  Market, By Application, 2020–2033(USD Billion)

43. South America Vitamin  Market, By Product Type, 2020–2033(USD Billion)

44. South America Vitamin  Market, By Application, 2020–2033(USD Billion)

45. Brazil Vitamin  Market, By Product Type, 2020–2033(USD Billion)

46. Brazil Vitamin  Market, By Application, 2020–2033(USD Billion)

47. Middle East and Africa Vitamin  Market, By Product Type, 2020–2033(USD Billion)

48. Middle East and Africa Vitamin  Market, By Application, 2020–2033(USD Billion)

49. UAE Vitamin  Market, By Product Type, 2020–2033(USD Billion)

50. UAE Vitamin  Market, By Application, 2020–2033(USD Billion)

51. South Africa Vitamin  Market, By Product Type, 2020–2033(USD Billion)

52. South Africa Vitamin  Market, By Application, 2020–2033(USD Billion)

List of Figures 

1. Global Vitamin  Market Segmentation

2. Vitamin  Market: Research Methodology

3. Market Size Estimation Methodology: Bottom-Up Approach

4. Market Size Estimation Methodology: Top-Down Approach

5. Data Triangulation

6. Porter’s Five Forces Analysis 

7. Value Chain Analysis 

8. Global Vitamin  Market Attractiveness Analysis By Product Type

9. Global Vitamin  Market Attractiveness Analysis By Application

10. Global Vitamin  Market Attractiveness Analysis By Region

11. Global Vitamin  Market: Dynamics

12. Global Vitamin  Market Share By Product Type(2023 & 2033)

13. Global Vitamin  Market Share by Application(2023 & 2033)

14. Global Vitamin  Market Share by Regions (2023 & 2033)

15. Global Vitamin  Market Share by Company (2023)

This study forecasts revenue at global, regional, and country levels from 2020 to 2033. The Brainy Insights has segmented the global Vitamin market on the basis of below mentioned segments:

Global Vitamin Market by Product Type:

  • Vitamin A
  • Vitamin B
  • Vitamin C
  • Vitamin D
  • Vitamin E
  • Vitamin K

Global Vitamin Market by Application:

  • Animal feed
  • Food & Beverages
  • Pharmaceutical industry
  • Cosmetics

Global Vitamin Market by Region:

  • North America
    • U.S.
    • Canada
    • Mexico
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
  • Asia-Pacific
    • Japan
    • China
    • India
  • South America
    • Brazil
  • Middle East and Africa  
    • UAE
    • South Africa

Methodology

Research has its special purpose to undertake marketing efficiently. In this competitive scenario, businesses need information across all industry verticals; the information about customer wants, market demand, competition, industry trends, distribution channels etc. This information needs to be updated regularly because businesses operate in a dynamic environment. Our organization, The Brainy Insights incorporates scientific and systematic research procedures in order to get proper market insights and industry analysis for overall business success. The analysis consists of studying the market from a miniscule level wherein we implement statistical tools which helps us in examining the data with accuracy and precision. 

Our research reports feature both; quantitative and qualitative aspects for any market. Qualitative information for any market research process are fundamental because they reveal the customer needs and wants, usage and consumption for any product/service related to a specific industry. This in turn aids the marketers/investors in knowing certain perceptions of the customers. Qualitative research can enlighten about the different product concepts and designs along with unique service offering that in turn, helps define marketing problems and generate opportunities. On the other hand, quantitative research engages with the data collection process through interviews, e-mail interactions, surveys and pilot studies. Quantitative aspects for the market research are useful to validate the hypotheses generated during qualitative research method, explore empirical patterns in the data with the help of statistical tools, and finally make the market estimations.

The Brainy Insights offers comprehensive research and analysis, based on a wide assortment of factual insights gained through interviews with CXOs and global experts and secondary data from reliable sources. Our analysts and industry specialist assume vital roles in building up statistical tools and analysis models, which are used to analyse the data and arrive at accurate insights with exceedingly informative research discoveries. The data provided by our organization have proven precious to a diverse range of companies, facilitating them to address issues such as determining which products/services are the most appealing, whether or not customers use the product in the manner anticipated, the purchasing intentions of the market and many others.

Our research methodology encompasses an idyllic combination of primary and secondary initiatives. Key phases involved in this process are listed below:

MARKET RESEARCH PROCESS

Data Procurement:

The phase involves the gathering and collecting of market data and its related information with the help of different sources & research procedures.

The data procurement stage involves in data gathering and collecting through various data sources.

This stage involves in extensive research. These data sources includes:

Purchased Database: Purchased databases play a crucial role in estimating the market sizes irrespective of the domain. Our purchased database includes:

  • The organizational databases such as D&B Hoovers, and Bloomberg that helps us to identify the competitive scenario of the key market players/organizations along with the financial information.
  • Industry/Market databases such as Statista, and Factiva provides market/industry insights and deduce certain formulations. 
  • We also have contractual agreements with various reputed data providers and third party vendors who provide information which are not limited to:
    • Import & Export Data
    • Business Trade Information
    • Usage rates of a particular product/service on certain demographics mainly focusing on the unmet prerequisites

Primary Research: The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. Primary research mainly involves in telephonic interviews, E-mail interactions and face-to-face interviews with the raw material providers, manufacturers/producers, distributors, & independent consultants. The interviews that we conduct provides valuable data on market size and industry growth trends prevailing in the market. Our organization also conducts surveys with the various industry experts in order to gain overall insights of the industry/market. For instance, in healthcare industry we conduct surveys with the pharmacists, doctors, surgeons and nurses in order to gain insights and key information of a medical product/device/equipment which the customers are going to usage. Surveys are conducted in the form of questionnaire designed by our own analyst team. Surveys plays an important role in primary research because surveys helps us to identify the key target audiences of the market. Additionally, surveys helps to identify the key target audience engaged with the market. Our survey team conducts the survey by targeting the key audience, thus gaining insights from them. Based on the perspectives of the customers, this information is utilized to formulate market strategies. Moreover, market surveys helps us to understand the current competitive situation of the industry. To be precise, our survey process typically involve with the 360 analysis of the market. This analytical process begins by identifying the prospective customers for a product or service related to the market/industry to obtain data on how a product/service could fit into customers’ lives.

Secondary Research: The secondary data sources includes information published by the on-profit organizations such as World bank, WHO, company fillings, investor presentations, annual reports, national government documents, statistical databases, blogs, articles, white papers and others. From the annual report, we analyse a company’s revenue to understand the key segment and market share of that organization in a particular region. We analyse the company websites and adopt the product mapping technique which is important for deriving the segment revenue. In the product mapping method, we select and categorize the products offered by the companies catering to domain specific market, deduce the product revenue for each of the companies so as to get overall estimation of the market size. We also source data and analyses trends based on information received from supply side and demand side intermediaries in the value chain. The supply side denotes the data gathered from supplier, distributor, wholesaler and the demand side illustrates the data gathered from the end customers for respective market domain.

The supply side for a domain specific market is analysed by:

  • Estimating and projecting penetration rates through analysing product attributes, availability of internal and external substitutes, followed by pricing analysis of the product.
  • Experiential assessment of year-on-year sales of the product by conducting interviews.

The demand side for the market is estimated through:

  • Evaluating the penetration level and usage rates of the product.
  • Referring to the historical data to determine the growth rate and evaluate the industry trends

In-house Library: Apart from these third-party sources, we have our in-house library of qualitative and quantitative information. Our in-house database includes market data for various industry and domains. These data are updated on regular basis as per the changing market scenario. Our library includes, historic databases, internal audit reports and archives.

Sometimes there are instances where there is no metadata or raw data available for any domain specific market. For those cases, we use our expertise to forecast and estimate the market size in order to generate comprehensive data sets. Our analyst team adopt a robust research technique in order to produce the estimates:

  • Applying demographic along with psychographic segmentation for market evaluation
  • Determining the Micro and Macro-economic indicators for each region 
  • Examining the industry indicators prevailing in the market. 

Data Synthesis: This stage involves the analysis & mapping of all the information obtained from the previous step. It also involves in scrutinizing the data for any discrepancy observed while data gathering related to the market. The data is collected with consideration to the heterogeneity of sources. Robust scientific techniques are in place for synthesizing disparate data sets and provide the essential contextual information that can orient market strategies. The Brainy Insights has extensive experience in data synthesis where the data passes through various stages:

  • Data Screening: Data screening is the process of scrutinising data/information collected from primary research for errors and amending those collected data before data integration method. The screening involves in examining raw data, identifying errors and dealing with missing data. The purpose of the data screening is to ensure data is correctly entered or not. The Brainy Insights employs objective and systematic data screening grades involving repeated cycles of quality checks, screening and suspect analysis.
  • Data Integration: Integrating multiple data streams is necessary to produce research studies that provide in-depth picture to the clients. These data streams come from multiple research studies and our in house database. After screening of the data, our analysts conduct creative integration of data sets, optimizing connections between integrated surveys and syndicated data sources. There are mainly 2 research approaches that we follow in order to integrate our data; top down approach and bottom up approach.

Market Deduction & Formulation: The final stage comprises of assigning data points at appropriate market spaces so as to deduce feasible conclusions. Analyst perspective & subject matter expert based holistic form of market sizing coupled with industry analysis also plays a crucial role in this stage.

This stage involves in finalization of the market size and numbers that we have collected from data integration step. With data interpolation, it is made sure that there is no gap in the market data. Successful trend analysis is done by our analysts using extrapolation techniques, which provide the best possible forecasts for the market.

Data Validation & Market Feedback: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helps us finalize data-points to be used for final calculations.

The Brainy Insights interacts with leading companies and experts of the concerned domain to develop the analyst team’s market understanding and expertise. It improves and substantiates every single data presented in the market reports. The data validation interview and discussion panels are typically composed of the most experienced industry members. The participants include, however, are not limited to:

  • CXOs and VPs of leading companies’ specific to sector
  • Purchasing managers, technical personnel, end-users
  • Key opinion leaders such as investment bankers, and industry consultants

Moreover, we always validate our data and findings through primary respondents from all the major regions we are working on.

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